Sensex, Nifty rally amid strong GDP data

Benchmark indices ended higher for the fourth consecutive session on December 1 with Nifty above 20,250. At close, the Sensex was up 492.75 points or 0.74 percent at 67,481.19, and the Nifty was up 134.70 points or 0.67 percent at 20,267.90. About 2041 shares advanced, 1566 shares declined, and 132 shares unchanged.

Except Auto, all other sectoral indices ended in the green with Capital Goods, FMCG, Metal, Power and Realty up 1 percent each. BSE Midcap index added 1 percent, while smallcap index up 0.4 percent.

Reduced geopolitical tensions have led to optimism with declining US bond yields and a weaker dollar. Analysts anticipate potential rate cuts by the US Federal Reserve following a pause in rate hikes.

Nifty scales record high, Sensex jumps 500 points

FIIs remained buyers for the fourth straight session, buying around Rs 10,000 crore worth of shares, according to NSDL data. On November 30, they bought around Rs 8,150 crore worth of shares, according to provisional data from National Stock Exchange.

India strengthened its position as the fastest-growing major economy by recording a 7.6 percent GDP growth in the September quarter, mainly led by the robust performance of the manufacturing sector.

The latest GDP data surpassed the Reserve Bank of India’s Monetary Policy Committee projection. The economy grew 7.8 percent in the first quarter of FY24 and 6.3 percent in the second quarter of FY23.

Top Nifty50 Gainers

Company Name	Last traded price (Rs)	% change
ITC	449.15	3.06
NTPC	268.95	2.93
Axis Bank	1103	2.68
Larsen & Toubro	3184.15	2.41
Britannia	4968	2.38

Top Nifty50 Losers

Company Name	Last traded price (Rs)	% change
Wipro	407.1	1.44
HDFC Life Insurance	681.65	1.32
Hero MotoCorp	3770	1.28
Mahindra & Mahindra	1627	1.26
SBI Life Insurance	1420.30	1.04

Oil prices recover from slump after underwhelming OPEC+ cuts

Oil prices pared losses on Friday, after falling sharply in early trade and by over 2% on Thursday on perceptions that the voluntary oil output cuts agreed by OPEC+ producers were underwhelming.

Brent crude futures for February rose 6 cents, or 0.1%, to $80.92 a barrel by 0820 GMT. US West Texas Intermediate crude futures rose 17 cents, or 0.2%, to $76.13.

European markets climb

European markets opened higher Friday after closing out their best month since January amid a global rally in stocks and bonds. The Stoxx 600 index was up 0.37% at with mining stocks leading gains with a 3.4% rise after China’s manufacturing sector recorded an unexpected expansion.

FTSE gained 0.71 percent at 7,504.70 while CAC added 0.39 percent at 7,339.15 and DAX rose 0.77 percent at 16,341.65 mark.

Asian markets end lower

Australia’s the S&P/ASX 200 inched down 0.2% and closed at 7,073.2, ending a three-day winning streak. South Korea’s Kospi tumbled 1.19%, leading losses in Asia and ending at 2,505.01. Japan’s Nikkei 225 ended the day down 0.17% at 33,431.51, but the Topix bucked the wider trend and closed up 0.32% at 2,382.52. Hong Kong’s Hang Seng index fell 1.1% in its final hour of trade.

Most active stocks on NSE in terms of volumes:

Company Name	Last traded price (Rs)	% change	Volume
Tata Steel	130	1.64	3,11,90,630
NTPC	268.95	2.93	29121193
Power Grid	210	0.5	20719189
ITC	449.15	3.06	19336385
ICICI Bank	947.50	1.34	16985490

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